Traders Purchase Large Volume of Fastly Call Options (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) was the target of some unusual options trading on Monday. Traders bought 22,782 call options on the company. This is an increase of approximately 239% compared to the average volume of 6,711 call options.

Wall Street Analyst Weigh In

FSLY has been the subject of a number of research reports. Piper Sandler boosted their target price on Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley reduced their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. Craig Hallum boosted their price target on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Monday. Finally, Robert W. Baird boosted their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.35.

Insider Activity at Fastly

In other Fastly news, CEO Todd Nightingale sold 49,816 shares of Fastly stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $311,350.00. Following the completion of the sale, the chief executive officer now owns 1,600,973 shares in the company, valued at $10,006,081.25. The trade was a 3.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ronald W. Kisling sold 16,102 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $100,637.50. Following the sale, the chief financial officer now owns 542,462 shares of the company’s stock, valued at $3,390,387.50. The trade was a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,439 shares of company stock valued at $1,209,560 over the last quarter. Insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new position in shares of Fastly in the second quarter worth $38,000. FMR LLC lifted its holdings in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after buying an additional 3,522 shares during the period. EMC Capital Management lifted its holdings in shares of Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock valued at $54,000 after buying an additional 6,000 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Fastly by 95.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after buying an additional 4,318 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of Fastly in the third quarter valued at $89,000. 79.71% of the stock is currently owned by institutional investors.

Fastly Stock Performance

Shares of FSLY stock traded up $1.50 on Monday, hitting $9.98. 3,283,487 shares of the stock traded hands, compared to its average volume of 3,513,274. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The company has a market capitalization of $1.40 billion, a PE ratio of -9.06 and a beta of 1.24. Fastly has a 1-year low of $5.52 and a 1-year high of $25.87. The company’s fifty day moving average is $7.39 and its 200 day moving average is $7.25.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. The business had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.33) EPS. On average, equities research analysts predict that Fastly will post -0.87 earnings per share for the current fiscal year.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.